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Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

Re: House blocks funding for health care law

Yeah, based on a litany of new taxes on business, which will invariably lead to more layoffs, higher unemployment and less tax base. And$ 1.1 trillion over 10 years wouldn't excite me even if it was true.

Re: House blocks funding for health care law

Originally Posted by Erod

Yeah, based on a litany of new taxes on business, which will invariably lead to more layoffs, higher unemployment and less tax base. And$ 1.1 trillion over 10 years wouldn't excite me even if it was true.

Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

The savings is based on zero populaton growth, much lower unemployement, no additional government spending projects, and healthcare being "spending neutral". Plus, it enacts a host of new taxes to curtail economic growth.

Re: House blocks funding for health care law

Originally Posted by Erod

The savings is based on zero populaton growth, much lower unemployement, no additional government spending projects, and healthcare being "spending neutral". Plus, it enacts a host of new taxes to curtail economic growth.

Dubious at best.

It beats anything we got from the Republican administration during the 12 years they were in power.

Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

Re: House blocks funding for health care law

Originally Posted by Catawba

Upper-income tax cuts and tax deal

"The presidentís budget requests have consistently adhered to one campaign pledge: Allow the Bush-era tax cuts for the wealthiest 2% of Americans to expire. Like last yearís budget, this budget proposes to permanently extend middle-class tax relief for individuals earning less than $200,000 and joint-filers earning less than $250,000. This proposal implicitly means allowing the top 33% and 35% marginal tax rates to revert to 36% and 39.6%, respectively, for individuals earning above $200,000 and joint-filers making more than $250,000. The budget also assumes that the personal exemption phase-out and the limitation on itemized deductions are reinstated for these top earners. Finally, the preferential rate on capital gains and dividends would increase from 15% to 20% for upper-income tax filers (prior to the Bush-era tax cuts, qualified dividends had been taxed as ordinary income under progressive tax rates). Last Decemberís tax deal had extended these upper-income tax cuts through the end of 2012 as the price for securing middle-class tax relief and continuing emergency unemployment insurance.

Decemberís tax deal also included a two-year estate tax cut (benefiting only the wealthiest 0.25% of Americans) instead of reinstating the estate tax at 2009 levels, as the presidentís 2011 budget had proposed. This yearís budget proposes extending the estate and gift tax rates at 2009 parameters (after the December tax deal expires), adding an estimated $271 billion to deficits over a decade, relative to current law. In contrast, extending the upper-income tax cuts and the estate tax levels in the tax deal would add $953 billion to deficits over the next decade, relative to the presidentís proposals, offsetting almost all of the deficit reduction measures in the presidentís budget request."

Re: House blocks funding for health care law

The estate tax should be permanently repealed and never used on anyone again.

How much was the deficit reduced since its ten year phase down 2001? If we are to be serious about our national debt, everyone will have to carry their weight.

Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

Re: House blocks funding for health care law

The estate tax should be permanently repealed and never used on anyone again.

No, the exact opposite, for several years the estate tax should be raised to help pay down the debt.

The policies of Reagan began the single greatest transfer of wealth in history. Remember the poker game analogy, when one player controls all the chips, the others must play on credit or quit. The game finally ends. In real world terms that means great depression.

Re: House blocks funding for health care law

How much was the deficit reduced since its ten year phase down 2001? If we are to be serious about our national debt, everyone will have to carry their weight.

Now you have said something I agree with “EVERYONE” should carry their weight.

I for one was in favor of letting all the Bush tax cuts expire, seeing liberals like to cast the Bush tax cuts as for the rich, it must have been heavily weighted for them correct? So let them all expire, remember Obama has already given the lower 95% a tax cut, so them taking such a small hit, from the Bush tax cut for the rich, would just be them carrying their weight right ?

I'll go right back to what I said before, we don't have a taxation problem, we have a spending problem. I for one will be more then willing to pay more in taxes, when I see the government get serious about cutting spending, I'm sorry but I don't see any cutting when you freeze spending after raising it 30 to 35% of what it was 2 years prior, you may call it what you like, but it in no way cuts government spending.

The death tax, is simply unfair, anyones “estate” was purchased with after tax dollars, now with after tax dollars someone builds and estate …. that he can leave his children, and the first person knocking on his coffin is the US government with their hand out saying you owe me again.

It's a bad tax, always has been and always will be, and should be repealed.